Nine Staggering Direct & Indirect Costs of Obamacare

This slideshow details nine of the most staggering direct and indirect costs of Obamacare to you, taxpayers, and American businesses. While some costs are in the millions, others will run as high as $1.8 trillion over the next decade.

@pamelavalemont, I think it started much later than WW2. Even when Reagan was in office, he and Tip O'Neill were able to work together to get things done. I'd be willing to bet it started around the time of New Gingrich and the 'Contract With (or 'ON') America.' Nowadays the GOP claims that they cannot work with Obama because they only get 95% of what they wanted. When Obamacare passed they came out with a slogan: 'Repeal and Replace.' I saw that and snorted because I knew they had no intention of replacing it. Sure enough it only took them two weeks to drop the 'and replace.'

@DavidConklin1 LOL Yeah, don't like sticking the boot into 'the Yanks', as my Dad was a WWII returned serviceman from New Guinea. However, between then and now something has gone horribly amiss, and the average American seems to be far less outward thinking and very much more insular today. It would help them to look outside themselves to see how the rest of the developed world lives, before they start to criticize President Obama's attempts to better things at home. He is ridiculed, harassed, brow-beaten, stymied at every turn, and it has forced him to take two steps forward and one step back every step of the way, which is detrimental in the extreme to progress for America. There can only be one explanation for this (because this kind of sustained vitriolic attack has never been witnessed before; it is unprecedented in American history): racism, often overtly displayed, but more frequently covert, thinly disguised and masquerading as 'criticism' of Democratic governmental policies.

Transcript of "Nine Staggering Direct & Indirect Costs of Obamacare"

1.
9 Staggering Direct & Indirect
Costs of Obamacare

2.
Costs in the Trillions
• According to the
Congressional Budget
Office’s (CBO) May 2013
update, the gross cost to
the U.S. government of
implementing
Obamacare will be $1.8
trillion between 2013
and 2023.
• Medicaid expansion
costs alone will total in
excess of $700 billion.
Source: Congressional Budget Office.

3.
A Taxpayers Dilemma
• To assist in paying for the
gargantuan costs
associated with
Obamacare, the CBO
estimates that, between
2013 and 2023,
uninsured individuals
will pay $45 billion in
penalties while
employers will fork over
another $140 billion.
Source: Congressional Budget Office.

4.
Direct Costs to You
2014 2015 2016 and beyond
$95/adult $325/adult $695/adult
Or 1% of family
income
Or 2% of family
income
Or 2.5% of family
income
If you choose not to purchase individual health insurance, you will be liable for an
increasingly steepening penalty at the end of the year that will rise from just a flat
fee of $95 per adult, or 1% of family household income next year, to as much as
$695 per adult and $347.50 per child, or 2.5% of family income in 2016 and
beyond. If there’s one fail-safe here, it’s that the cost of the penalty cannot exceed
the cost of what would be a state’s lowest-priced annual insurance plan.
The penalty is the larger figure of the two!

5.
If You’re Young, Expect to Pay More
Source: Images Money, Flickr.
• A study conducted by
consulting firm Milliman
regarding the affordability
of Obamacare finds that
young people will see the
largest increase in
premiums while those
aged 60-64 could actually
see premium costs fall.
The biggest expected
premium bump is males
aged 21-29 who could see
premium costs rise by
56%.

6.
All that Technology Costs a Pretty Penny
Source: Beraldo Leal, Flickr.
• According to the CBO,
from the moment
Obamacare was passed
and signed into law
through the end of March
2013, the U.S.
government had doled
out $394 million in
contracts specifically to
get its cloud-computing
network up and running
for the state-run health
exchanges.

7.
Even the Delays Can Be Costly
Source: White House on Flickr.
• Opponents of the bill may
have shed a sigh of relief
when, in early July, it was
announced that full
implementation of the
employer mandate would be
pushed back an additional
year to Jan. 1, 2015.
Unfortunately, the delay will
wind up costing the
government $12 billion by
CBO estimates and it’ll result
in 1 million current
employees losing work-
related health insurance
coverage.

8.
The Jobs Market is Also Paying a Hefty Toll
Source: St. Louis Federal Reserve.
• In order to avoid
Obamacare’s
employer penalties,
businesses having
been cutting back
hours and lessening
full-time hiring. As you
can see to your left,
731,000 part-time
jobs have been
created so far this
year, accounting for a
staggering 77% of all
new job creation.

9.
A Taxing TKO of Medical Device Makers
Medtronic EnRhythm Pacing System, Source: Steve Winton, Flickr.
• Medical device makers like
Medtronic are being hit
particularly hard with a 2.3%
medical device excise tax to help
cover the costs of Obamacare’s
Medicaid expansion. This tax
covers everything from a needle
to something as complex as the
Medtronic pacemaker you see
to your left.
• Device makers have collectively
paid more than $1 billion in
excise taxes so far this year and
could pay as much as $29
billion in taxes between now
and 2023.

11.
If you still have questions about how Obamacare might affect you
and your portfolio then may I suggest The Motley Fool’s special
free report, “Everything You Need to Know About Obamacare,”
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